Wormhole Launches Era3 Upgrade: Advancing the Multichain Experience for Users, Developers, and Institutions
Era3 offers major UX/UI upgrades, streamlines deployment process, and accelerates institutional access to the DeFi ecosystem
GRAND CAYMAN, Cayman Islands, Sept. 20, 2024 /PRNewswire/ — Wormhole Foundation, the team supporting the development of the Wormhole platform, today announced the launch of Wormhole Era3. An upgrade to the existing Wormhole platform, Era3 improves the end-user experience and simplifies the integration of Wormhole’s multichain standards and tooling by streamlining the decentralized application deployment process. Wormhole Foundation also disclosed that it will be introducing Wormhole Institutional, a suite of products and services designed specifically for institutions and capital market participants.
The launch of Era3 is the latest major product overhaul designed to expand Wormhole’s capabilities and underscores the platform’s commitment to creating a unified and easily accessible blockchain ecosystem. Since its launch in 2020, Wormhole has established itself as a leading blockchain interoperability platform whose offerings enable a seamless, cost-effective, and efficient multichain experience for developers and users. To date, Wormhole has already facilitated the passing of over 1 billion messages and is currently compatible with over 30 different leading blockchains.
“Wormhole Era3 is the next phase in realizing a uniform blockchain ecosystem that appeals to institutional finance, enterprise technology, and users at all levels,” said Robinson Burkey, co-founder and CCO of Wormhole Foundation. “The launch of Era3 makes Wormhole more accessible and allows developers to easily leverage its technology to create the next generation of multichain applications. Wormhole’s Native Token Transfers (NTT) framework and Guardian Network, the spine of the Wormhole platform’s security and verification technology, have set the standard for apps that span the entirety of the Web3 ecosystem, including DeFi applications, systemically important assets, wallets, and more. Wormhole’s technology will streamline the process of building from an intents-based approach and we’re excited to introduce Wormhole’s latest evolution.”
Addressing growing institutional demand for interoperable blockchain solutions in capital markets use cases, Wormhole serves several major institutional integrations in various capacities. For example, Securitize, a leader in real-world asset tokenization who serves clients like Blackrock and KKR, has recently selected Wormhole as its official interoperability provider for all current and future tokenized assets on its platform, ensuring tokenized assets can flow freely across the entire crypto ecosystem. Wormhole has also been selected for integration with institutions like Google Cloud and AMD to bolster the Wormhole platform’s technology offering for enterprises globally. Central to Wormhole Institutional is the native token transfers (NTT) framework that cuts liquidity fragmentation by preserving the intrinsic properties of tokens on different chains—eliminating the need for projects to wrap assets. NTT serves as a long-term solution to ensure native properties aren’t altered when a token is transferred to a given chain while also maintaining the flexibility for token issuers to preserve contract ownership or integrate other verification systems. Building upon this framework, financial institutions can improve operations by adding transparency, reducing transaction fees and other costs, increasing liquidity, and improving risk management.
Along with Wormhole Institutional, major features of the Era3 upgrade include:
- Composable Intents: An intents-based network, including a stablecoin liquidity layer powered by Solana, integration of Mayan protocol’s Swift product, and native swap protocol built by Mayan on top of Wormhole’s Composable Intents.
- Portal: Full-service offering for token transfers/cross-chain swap interface, including integration of all the new intents products for a drastic improvement in speed and cost-efficiency.
- Connect V2: For product aggregation and UX enhancements
- Typescript SDK: Empowering developer innovation with all the power of Connect
- Wormholescan: Improving transaction tracking capabilities and analytics
- Expanded integrations of intents and NTT: Integration with teams like Backpack, Mayan, and Jupiter for Composable Intents, as well as assets like Lido’s wstETH and Morpheus for NTT
“As everyday users, institutions, and governments move assets on onchain, we are building the Wormhole platform to power the future of decentralized economies,” commented Dan Reecer, co-founder and COO. “Integrations with household names in the enterprise world are demonstrative of Wormhole’s role as the unifier of the technologies and services that will make the decentralized web the standard venue for near-instant, safe transactions of assets worth trillions in value. Looking forward, we know this is only the start. Wormhole contributors will continue accelerating the momentum on our path towards being the de facto standard for all blockchain connectivity needs, and we are on course to continue delivering more new innovations for the industry and global market participants for years to come.”
To learn more about Era3, visit wormhole.com/blog/wormhole-platform-roadmap.
About Wormhole
Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers access to liquidity and users on over 30 leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more.
The wider Wormhole network is trusted and used by teams like Circle and Uniswap. To date, the platform has facilitated the transfer of over 40 billion dollars through over 1 billion cross-chain messages.
About Wormhole Foundation
The Wormhole Foundation is the steward of Wormhole—the world’s first generalized messaging protocol. Our mission is to empower passionate people in researching and developing blockchain interoperability technologies. Through grants, research, and ecosystem programs, we seek to enable teams to build secure, open-source, and decentralized products within the Wormhole ecosystem.
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SOURCE Wormhole Foundation
